The Week: Media News - HSBC: overdraft climbdown

HSBC has backed down on its decision to charge interest on its graduate overdrafts after more than 4,000 people signed up to a pressure group on Facebook.

The bank had announced that it would require graduates to pay interest on their overdrafts as soon as they graduated. However, it has now staged a U-turn on the decision as a result of the campaign, which was orchestrated by the National Union of Students.